Find out about Iota (MIOTA), it’s easy!

What is IOTA? 

IOTA is a digital project with the aim of developing the Internet of Things (IOT) and secure transactions between devices. Unlike most crypto platforms, IOTA is not based on blockchain technology but on another type of DLT that uses the Directed Acyclic Graph (DAG) structure instead of the usual linear blockchain. Thanks to this, IOTA’s strength is scalability, which has allowed the network to grow exponentially. 

Why follow IOTA?

MIOTA has a number of advantages over classic cryptocurrencies. In fact, MIOTA has no transaction fees, as each node participates in the network without competition. The MIOTA cryptocurrency has a total supply of 2,779,530,283 tokens, all already issued. There is no mining and consequently no validator and reward system. It is a distributed ledger designed to contribute to the open development of the IoT by increasing security in communication between devices.  

How was it created?

Compared to its rivals, IOTA has been particularly successful in the crypto market. It was created in 2015 by four founders: David Sønstebø, Sergey Ivancheglo, Dominik Schiener and Sergei Popov. Beta testing of the network began in summer 2016. In less than a year, IOTA became one of the most traded digital currencies on world exchanges, reaching fourth position in terms of market cap. The IOTA Foundation was established to develop models and research for telecom infrastructure. It partners with Microsoft (on Azure), Cisco, Bosch, and Alliance.